British fintech players circling Aussie market ahead, Xero says
Savvy British fintech players could sweep into the Australian market en masse this year if the open banking regime kicks off in July, jostling with local start-ups and potentially kicking off a round of joint ventures or mergers and acquisitions. That’s the scenario painted by Ben Styles, general manager of financial services at ASX-listed Xero, who has been central to the Kiwi accounting software company’s engagement with open banking regimes in Britain and Australia. Open banking hit Britain’s financial services sector in January last year, giving the vibrant fintech scene there an 18-month head start on the similar regime set to launch in Australia on July 1, assuming the election […]
New technologies key driver of digital banking
Banks around the world are citing new technologies as having the biggest impact on the industry and not customer demands or regulation, according to a new survey. The survey by the Economist Intelligence Unit, conducted for Temenos, has revealed that retail banks believe new technologies are more important than customer demands and regulation for the first time in the survey’s six-year history. The Economist Intelligence Unit surveyed over 400 banking executives worldwide and put focus on how retail banks were incorporating technology for future customers. The survey highlighted new technology like AI, open APIs and the cloud as driving banks towards advanced data and analytics in developing compelling propositions and […]
Coinbase CEO Brian Armstrong: Cryptocurrency needs 3 things for mass adoption
Brian Armstrong, CEO of popular cryptocurrency exchange Coinbase and long-time Bitcoin proponent, has issued a list of what he believes cryptocurrency needs to accomplish in order to reach mass adoption. Speaking in 45-minute Ask Me Anything (AMA) session published to YouTube on April 2nd, the CEO outlined three things that are paramount to both crypto and Bitcoin growth: volatility, scalability and usability. While Armstrong answered a number of community-submitted questions, the first and most pressing appeared to be what the industry needed to achieve mass adoption–a breakthrough that many believe to be the most sustainable route for digital asset growth. According to Armstrong, adoption for the industry is largely being […]
Are we looking at a cashless future?
When was the last time you paid for something with a fat wad of notes or a handful of shrapnel? Even if you wanted to, you may not have had the option – according to the Commonwealth Bank, the number of Aussies making cash payments is shrinking, while the number of businesses going completely cashless is growing. Cashless payments are becoming more and more popular around Australia, with CBA finding that a contactless or “tap” payment is now the preferred payment method for more than 90 per cent of purchases. CBA also found that between January 2017 and January 2019, contactless payment transactions have grown by 140 per cent. A […]
Space tickets, gemstones and Gmail: ‘Biggest business you’ve never heard of’ behind $5.6 billion in deals
It’s used to buy and sell everything that’s “complex and expensive”, from boats and planes to space station tickets, gemstones and exotic animals. But despite processing more than $5.6 billion in deals, including the sale of some of the internet’s biggest domain names including Twitter, Gmail and Instagram, it’s the “biggest fintech you’ve never heard of”. Matt Barrie reckons they “should have added a few zeros” to the $10 million sale price of little-known US website Escrow.com when he snapped it up three years ago. Escrow.com, as the name suggests, provides online escrow services for e-commerce platforms by holding payment between buyer and seller until a transaction is completed. Its […]
Doshii-Mimu integration brings simple, 3-step ordering-ahead to busy bars
Doshii is pleased to announce another successful integration. The latest is with mobile App, Mimu, which is helping transform the way we order food and drink in bars and restaurants. Mimu eliminates time spent waiting to order by letting patrons order ahead from their mobile phone. To start the ordering process, customers simply open the Mimu App and their location is automatically picked up. Using Mimu’s intuitive UI, they then order what they want from the venue’s menu and head straight to online checkout – paying through the Mimu App. Doshii’s API, which connects Apps with POS, then processes the order and payment in real-time and alerts staff at the venue to […]
Bitcoin enthusiasts see end to bear market
After a brutal bear market that’s stretched 16 long months, Bitcoin enthusiasts are ready to declare that the dreaded “crypto winter” is finally at an end.
Bene working up to be a challenger bank in Australia
Bene is a new lender in Australia that is working towards building a neo-bank. At the moment, Bene says it is not a bank or an authorised deposit-taking institution (ADI), and is not authorised by the Australian Prudential Regulation Authority (APRA) to conduct banking business in Australia. However, the firm intends to apply for authorisation to conduct banking business in Australia, initially for a limited period with specific requirements and restrictions as a restricted ADI. The firm says it is “driven by smart, simple design” on its mobile platform. According to its site, Bene offers loans from AU$2,000 to AU$30,000. To read more, please click on the link below….Source: Bene […]
